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of <h1>Exim Bank of India Grants $22.5M Credit Line to Burkina Faso for Affordable Housing; 75% Sourcing from India Required.</h1> Export-Import Bank of India has established a USD 22.50 million Line of Credit to the Government of Burkina Faso for financing a low-cost housing project. The agreement, effective from September 13, 2013, mandates that at least 75% of the goods and services be sourced from India, with the remainder potentially sourced internationally. The deadline for Letters of Credit and disbursement is 48 months post-project completion for project exports and 72 months from the agreement date for supply contracts. No agency commission is payable under this LOC, and compliance with the Foreign Exchange Management Act is required.
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